CELL AND GENE THERAPY MARKET ANALYSIS

Cell And Gene Therapy MarketSize and Trends

The global cell and gene therapy market is estimated to be valued at US$ 22.7 billion in 2023 and is expected to exhibit a CAGR of 28.7% during the forecast period (2023-2030).

Based on Therapy Type, the global cell and gene therapy market is segmented into Cell Therapy (Stem Cells, T Cells, Dendritic Cells, and NK Cells) and Gene Therapy (Germline Gene Therapy and Somatic Gene Therapy). Out of which, the cell therapy segment is expected to dominate the global cell and gene therapy market during the forecast period, and this is due to the increasing adoption of various growth strategies such as collaboration, funding, and others by the market players.

Based on Application, the global cell and gene therapy market is segmented into Dermatology, Musculoskeletal, Oncology, Immunology, Cardiology & Neurology, and Others (Urinary Problems, Infectious Disease, Ophthalmic Diseases, Retinal Diseases, and Others). Out of which, the musculoskeletal segment is expected to dominate the global cell and gene therapy market during the forecast period, and this is due to the increasing prevalence of musculoskeletal injuries such as cartilage defects, osteoarthritis, ligament, and others.

Based on End user, the global cell and gene therapy market is segmented into Hospitals, Clinics, and Others (Research Institutes, Academic Institutes, etc.). Out of which, the hospitals segment is expected to dominate the market over the forecast period, and this is due to the collaborations by hospitals with the market players to support clinical trials and research and development activities of cell and gene therapy.

Based on Region, the global cell and gene therapy market is segmented into North America, Latin America. Europe, Asia Pacific, Middle East, and Africa. Out of which, North America is expected to dominate the global market over the forecast period, and this is due to increasing funding by the market players in cell and gene therapy under this region.

Among all the segmentations, the therapy type segment has the highest potential due to the increasing funding led by the key market players. For instance, in March 2021, ElevateBio, a cell and gene therapy technology company, announced that it had raised US$ 525 billion in a Series C financing, under which ElevateBio had created a new disruptive business model addressing the most pressing challenges in the field of cell and gene therapy with an unprecedented suite of next generation-enabling technologies; including gene editing, induced pluripotent stem cells, and protein, viral, and cellular engineering; the company is changing the way the field advances cell and gene therapies.